Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
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Nine banks to start lending govt-backed $6.25b for business immediately
Nine banks have made the cut to participate in the government-backed $6.25 billion loan scheme to help businesses hit by the coronavirus crisis and subsequent national lockdown.Businesses with turnover between $250,000 and $80 million can begin applying for up to three-year $500,...
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BNZ takes a more cautious approach to judging company solvency
Bank of New Zealand is taking a more cautious approach to business lending during the coronavirus crisis and to assessing the solvency of would-be corporate borrowers than some of the other banks. "Our obligations to ensure we are lending responsibly don't change and it's some...
Finance
BusinessNZ, lawyers tell govt: relax insolvency law
While at least some of the major banks have said they will judge the solvency of companies wanting to borrow on their pre-coronavirus crisis financial position, lawyers are saying the government still has to relax insolvency law to ease the liability directors face.Other countrie...
Finance
ANZ Bank will also honour spirit of govt-backed business loans
New Zealand's largest bank, ANZ Bank, said it will also abide by the spirit of the government's $6.25 billion business finance guarantee scheme and will base its assessment of a firm's solvency on how they were performing before the coronavirus crisis and the nation's shutdown....
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